The farmer got granted an individual guarantee of 80% provided by a governmental development institution Agricultural Credit Guarantee Fund. Please read more about individual guarantees and benefits this scheme provides for investors in our news section.
This project provides the HeavyFinance investor community with an opportunity to invest in the development of the Lithuanian farm. The funds are collected to purchase a used tractor together with a semi-traler. The purchased heavy-equipment will be pledged to secure the loan.
Ekoangus, UAB is engaged in the breeding and rearing of Angus breeding cattle in the Mažeikiai district. Currently, 150 beef cattle graze on the farm, and on the most fertile farm areas, fodder is sown.
The company is seeking to increase efficiency of the farm by the puchase of a tractor with front-end loader and a semi-trailer. For this purpose, it is borrowing 53.000 € from the HeavyFinance investor community.
The farm’s financial statements show the difference between income and net profit in 2019 and 2020 - last year’s financial indicators are lower. It happened due to the fact that meat buyers did not have sufficient funds due to the consequences of the COVID-19 pandemic to buy all the meat the farm produced. In addition, a farmer states that it takes time to raise and prepare animals for sale, and last year most of the cattle on the farm were still too small to sell. Nevertheless, most beef cattle are already grown enough for the sale this year, therefore the farmer expects financial results to recover soon.
The company forecasts that the income and profit from operations will grow and create more opportunities for development. In the future, the company plans to purchase more beef cattle, rent additional plots of the land, and expand buildings for animal husbandry.
Area of declared land: 165,45 ha, from which 50,60 ha is owned by the company.